CARRIER GLOBAL CORP (CARR) Fundamental Analysis & Valuation

NYSE:CARR • US14448C1045

Current stock price

60.49 USD
-1.22 (-1.98%)
Last:

This CARR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. CARR Profitability Analysis

1.1 Basic Checks

  • In the past year CARR was profitable.
  • In the past year CARR had a positive cash flow from operations.
  • In the past 5 years CARR has always been profitable.
  • In the past 5 years CARR always reported a positive cash flow from operatings.
CARR Yearly Net Income VS EBIT VS OCF VS FCFCARR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

1.2 Ratios

  • CARR has a Return On Assets (3.99%) which is comparable to the rest of the industry.
  • CARR's Return On Equity of 10.75% is in line compared to the rest of the industry. CARR outperforms 53.66% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 5.06%, CARR is doing worse than 70.73% of the companies in the same industry.
  • CARR had an Average Return On Invested Capital over the past 3 years of 5.56%. This is significantly below the industry average of 11.89%.
Industry RankSector Rank
ROA 3.99%
ROE 10.75%
ROIC 5.06%
ROA(3y)7.69%
ROA(5y)8.6%
ROE(3y)22.03%
ROE(5y)27.25%
ROIC(3y)5.56%
ROIC(5y)8.12%
CARR Yearly ROA, ROE, ROICCARR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

1.3 Margins

  • CARR has a Profit Margin (6.82%) which is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of CARR has declined.
  • CARR has a Operating Margin of 10.01%. This is comparable to the rest of the industry: CARR outperforms 43.90% of its industry peers.
  • In the last couple of years the Operating Margin of CARR has declined.
  • Looking at the Gross Margin, with a value of 26.05%, CARR is doing worse than 68.29% of the companies in the same industry.
  • CARR's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 10.01%
PM (TTM) 6.82%
GM 26.05%
OM growth 3Y-22.02%
OM growth 5Y-1.52%
PM growth 3Y-26.67%
PM growth 5Y-9.68%
GM growth 3Y-0.94%
GM growth 5Y-2.38%
CARR Yearly Profit, Operating, Gross MarginsCARR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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3

2. CARR Health Analysis

2.1 Basic Checks

  • CARR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for CARR has been reduced compared to 1 year ago.
  • The number of shares outstanding for CARR has been reduced compared to 5 years ago.
  • Compared to 1 year ago, CARR has an improved debt to assets ratio.
CARR Yearly Shares OutstandingCARR Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M
CARR Yearly Total Debt VS Total AssetsCARR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • CARR has an Altman-Z score of 2.61. This is not the best score and indicates that CARR is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.61, CARR is not doing good in the industry: 60.98% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of CARR is 5.65, which is a neutral value as it means it would take CARR, 5.65 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 5.65, CARR is doing worse than 60.98% of the companies in the same industry.
  • CARR has a Debt/Equity ratio of 0.82. This is a neutral value indicating CARR is somewhat dependend on debt financing.
  • CARR's Debt to Equity ratio of 0.82 is on the low side compared to the rest of the industry. CARR is outperformed by 65.85% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 5.65
Altman-Z 2.61
ROIC/WACC0.53
WACC9.57%
CARR Yearly LT Debt VS Equity VS FCFCARR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

2.3 Liquidity

  • CARR has a Current Ratio of 1.20. This is a normal value and indicates that CARR is financially healthy and should not expect problems in meeting its short term obligations.
  • CARR has a Current ratio of 1.20. This is amonst the worse of the industry: CARR underperforms 90.24% of its industry peers.
  • A Quick Ratio of 0.85 indicates that CARR may have some problems paying its short term obligations.
  • The Quick ratio of CARR (0.85) is worse than 82.93% of its industry peers.
Industry RankSector Rank
Current Ratio 1.2
Quick Ratio 0.85
CARR Yearly Current Assets VS Current LiabilitesCARR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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4

3. CARR Growth Analysis

3.1 Past

  • CARR shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -7.86%.
  • The Earnings Per Share has been growing by 9.22% on average over the past years. This is quite good.
  • The Revenue for CARR has decreased by -24.14% in the past year. This is quite bad
  • Measured over the past years, CARR shows a small growth in Revenue. The Revenue has been growing by 4.49% on average per year.
EPS 1Y (TTM)-7.86%
EPS 3Y3.46%
EPS 5Y9.22%
EPS Q2Q%-37.04%
Revenue 1Y (TTM)-24.14%
Revenue growth 3Y2.12%
Revenue growth 5Y4.49%
Sales Q2Q%-6.04%

3.2 Future

  • CARR is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.99% yearly.
  • The Revenue is expected to grow by 6.95% on average over the next years.
EPS Next Y9.65%
EPS Next 2Y11.96%
EPS Next 3Y12.84%
EPS Next 5Y15.99%
Revenue Next Year0.16%
Revenue Next 2Y2.73%
Revenue Next 3Y3.67%
Revenue Next 5Y6.95%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
CARR Yearly Revenue VS EstimatesCARR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
CARR Yearly EPS VS EstimatesCARR Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

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2

4. CARR Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 23.45, which indicates a rather expensive current valuation of CARR.
  • CARR's Price/Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.66. CARR is around the same levels.
  • The Price/Forward Earnings ratio is 21.38, which indicates a rather expensive current valuation of CARR.
  • The rest of the industry has a similar Price/Forward Earnings ratio as CARR.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 38.00, CARR is valued a bit cheaper.
Industry RankSector Rank
PE 23.45
Fwd PE 21.38
CARR Price Earnings VS Forward Price EarningsCARR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 63.41% of the companies in the same industry are cheaper than CARR, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of CARR is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 24.11
EV/EBITDA 17.92
CARR Per share dataCARR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • A more expensive valuation may be justified as CARR's earnings are expected to grow with 12.84% in the coming years.
PEG (NY)2.43
PEG (5Y)2.54
EPS Next 2Y11.96%
EPS Next 3Y12.84%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. CARR Dividend Analysis

5.1 Amount

  • CARR has a Yearly Dividend Yield of 1.61%.
  • CARR's Dividend Yield is rather good when compared to the industry average which is at 0.75. CARR pays more dividend than 85.37% of the companies in the same industry.
  • CARR's Dividend Yield is comparable with the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 1.61%

5.2 History

  • CARR has been paying a dividend for over 5 years, so it has already some track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
CARR Yearly Dividends per shareCARR Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6

5.3 Sustainability

  • 52.02% of the earnings are spent on dividend by CARR. This is a bit on the high side, but may be sustainable.
DP52.02%
EPS Next 2Y11.96%
EPS Next 3Y12.84%
CARR Yearly Income VS Free CF VS DividendCARR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
CARR Dividend Payout.CARR Dividend Payout, showing the Payout Ratio.CARR Dividend Payout.PayoutRetained Earnings

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CARR Fundamentals: All Metrics, Ratios and Statistics

CARRIER GLOBAL CORP

NYSE:CARR (4/22/2026, 12:47:06 PM)

60.49

-1.22 (-1.98%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryBuilding Products
Earnings (Last)02-05
Earnings (Next)04-30
Inst Owners90.82%
Inst Owner Change-0.13%
Ins Owners6.15%
Ins Owner Change10.47%
Market Cap50.54B
Revenue(TTM)21.75B
Net Income(TTM)1.48B
Analysts78.06
Price Target73.08 (20.81%)
Short Float %2.59%
Short Ratio2.84
Dividend
Industry RankSector Rank
Dividend Yield 1.61%
Yearly Dividend0.9
Dividend Growth(5Y)N/A
DP52.02%
Div Incr Years0
Div Non Decr Years0
Ex-Date05-04
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.47%
Min EPS beat(2)-10.37%
Max EPS beat(2)15.31%
EPS beat(4)2
Avg EPS beat(4)3.43%
Min EPS beat(4)-10.37%
Max EPS beat(4)15.31%
EPS beat(8)5
Avg EPS beat(8)4.01%
EPS beat(12)9
Avg EPS beat(12)4.17%
EPS beat(16)12
Avg EPS beat(16)4.81%
Revenue beat(2)0
Avg Revenue beat(2)-3.44%
Min Revenue beat(2)-5.05%
Max Revenue beat(2)-1.83%
Revenue beat(4)0
Avg Revenue beat(4)-2.46%
Min Revenue beat(4)-5.05%
Max Revenue beat(4)-1.31%
Revenue beat(8)0
Avg Revenue beat(8)-4.11%
Revenue beat(12)2
Avg Revenue beat(12)-3.21%
Revenue beat(16)3
Avg Revenue beat(16)-2.61%
PT rev (1m)-0.56%
PT rev (3m)1%
EPS NQ rev (1m)-0.43%
EPS NQ rev (3m)-8.91%
EPS NY rev (1m)-0.67%
EPS NY rev (3m)-6.84%
Revenue NQ rev (1m)0.31%
Revenue NQ rev (3m)-2.52%
Revenue NY rev (1m)-0.17%
Revenue NY rev (3m)-3.25%
Valuation
Industry RankSector Rank
PE 23.45
Fwd PE 21.38
P/S 2.32
P/FCF 24.11
P/OCF 20.31
P/B 3.66
P/tB N/A
EV/EBITDA 17.92
EPS(TTM)2.58
EY4.27%
EPS(NY)2.83
Fwd EY4.68%
FCF(TTM)2.51
FCFY4.15%
OCF(TTM)2.98
OCFY4.92%
SpS26.03
BVpS16.52
TBVpS-9.6
PEG (NY)2.43
PEG (5Y)2.54
Graham Number30.9705 (-48.8%)
Profitability
Industry RankSector Rank
ROA 3.99%
ROE 10.75%
ROCE 7.24%
ROIC 5.06%
ROICexc 5.34%
ROICexgc 22.75%
OM 10.01%
PM (TTM) 6.82%
GM 26.05%
FCFM 9.64%
ROA(3y)7.69%
ROA(5y)8.6%
ROE(3y)22.03%
ROE(5y)27.25%
ROIC(3y)5.56%
ROIC(5y)8.12%
ROICexc(3y)7.22%
ROICexc(5y)10.08%
ROICexgc(3y)26.77%
ROICexgc(5y)32.8%
ROCE(3y)7.94%
ROCE(5y)11.6%
ROICexgc growth 3Y-26.73%
ROICexgc growth 5Y-0.37%
ROICexc growth 3Y-33.6%
ROICexc growth 5Y-7.35%
OM growth 3Y-22.02%
OM growth 5Y-1.52%
PM growth 3Y-26.67%
PM growth 5Y-9.68%
GM growth 3Y-0.94%
GM growth 5Y-2.38%
F-Score4
Asset Turnover0.58
Health
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 5.65
Debt/EBITDA 3.29
Cap/Depr 30.77%
Cap/Sales 1.8%
Interest Coverage 5.16
Cash Conversion 72.12%
Profit Quality 141.24%
Current Ratio 1.2
Quick Ratio 0.85
Altman-Z 2.61
F-Score4
WACC9.57%
ROIC/WACC0.53
Cap/Depr(3y)54.1%
Cap/Depr(5y)71.4%
Cap/Sales(3y)2.14%
Cap/Sales(5y)1.96%
Profit Quality(3y)100.42%
Profit Quality(5y)90.87%
High Growth Momentum
Growth
EPS 1Y (TTM)-7.86%
EPS 3Y3.46%
EPS 5Y9.22%
EPS Q2Q%-37.04%
EPS Next Y9.65%
EPS Next 2Y11.96%
EPS Next 3Y12.84%
EPS Next 5Y15.99%
Revenue 1Y (TTM)-24.14%
Revenue growth 3Y2.12%
Revenue growth 5Y4.49%
Sales Q2Q%-6.04%
Revenue Next Year0.16%
Revenue Next 2Y2.73%
Revenue Next 3Y3.67%
Revenue Next 5Y6.95%
EBIT growth 1Y-13.55%
EBIT growth 3Y-20.37%
EBIT growth 5Y2.91%
EBIT Next Year23.68%
EBIT Next 3Y13.99%
EBIT Next 5YN/A
FCF growth 1Y475.82%
FCF growth 3Y14.67%
FCF growth 5Y8.72%
OCF growth 1Y181.77%
OCF growth 3Y12.59%
OCF growth 5Y8.02%

CARRIER GLOBAL CORP / CARR Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for CARRIER GLOBAL CORP?

ChartMill assigns a fundamental rating of 3 / 10 to CARR.


Can you provide the valuation status for CARRIER GLOBAL CORP?

ChartMill assigns a valuation rating of 2 / 10 to CARRIER GLOBAL CORP (CARR). This can be considered as Overvalued.


Can you provide the profitability details for CARRIER GLOBAL CORP?

CARRIER GLOBAL CORP (CARR) has a profitability rating of 3 / 10.


How financially healthy is CARRIER GLOBAL CORP?

The financial health rating of CARRIER GLOBAL CORP (CARR) is 3 / 10.


What is the earnings growth outlook for CARRIER GLOBAL CORP?

The Earnings per Share (EPS) of CARRIER GLOBAL CORP (CARR) is expected to grow by 9.65% in the next year.